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solicitors exchange rate

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rick1


Joined: 20/04/2010
Posts: 44

Message Posted:
02/05/2010 03:14

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Message 1 of 6 in Discussion

hi, comments please.



I am about to get my kocan, not bad, started in 2002.



I know I have to pay taxes, but, solicitor had based my taxes on an exchange rate of 2.4 TL to the pound, currently its near 2.2



regards



Rick



Troodo


Joined: 12/06/2008
Posts: 1002

Message Posted:
02/05/2010 07:23

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Message 2 of 6 in Discussion

Two solicitors for two brass washers and a rusty nail.



keithcaley



Joined: 13/06/2008
Posts: 2521

Message Posted:
02/05/2010 08:28

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Message 3 of 6 in Discussion

Rick1,

If your contract quotes your house price in Sterling, I think that the taxes in are calculated in Sterling, as a % of the contract price.

Don't consider changing your Sterling to TL at a poor rate, your solicitor may be 'trying it on' in my opinion - who is it?

email me: keithcaley@yahoo.com if you don't want to make it public



Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
02/05/2010 08:35

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Message 4 of 6 in Discussion

Keith, I have heard that the Tapu (Land Office) do the exchange calculation based on the exchange rate prevailing at the time the contract was signed.



It may well be the lawyer is not 'up to anything'... but then again that would make a nice change... pardon the pun.



cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
02/05/2010 09:13

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Message 5 of 6 in Discussion

You are correct Groucho, transfer tax is calculated using the rate when the contract was signed but the KDV (VAT) is 5% of the contract price.



cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
02/05/2010 09:38

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Message 6 of 6 in Discussion

You can use this historical converter to check on the rate - http://www.oanda.com/currency/historical-rates



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